27604 Rialto St · Madison Heights, MI 48071

$240,000

3 bd · 1.5 ba · 1,679 sqft · SingleFamily public records · 3 Days on market

Built 1959 6,098 sqft lot Est $272k · 12% under

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.8/30.0
• ARV discount +12.8/15.0
• DSCR +6.3/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming move-in-ready 980 sq ft ranch featuring 3 bedrooms and 1.5 baths. This home offers a partially finished full basement with additional living space, a half bath, and laundry area. Situated on a corner lot in a quiet neighborhood, it includes a fenced backyard with a deck - perfect for entertaining. Conveniently located with easy access to freeways, shopping, restaurants, and nightlife.

Key facts

• 6,098 sq ft lot
• Built 1959
• Listed 3 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps
• Construction: Brick and vinyl siding exterior
• Exterior features: Paved road access; Lot approximately 0.14 acres (70 x 90)

Interior

• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Partially finished basement; Basement present

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (4.7% below list).
• Recommended offer: $229k (4.7% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 5.7% in Madison Heights — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#62 in MI, #1,347 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, health & safety D.
• Madison District Public Schools (suburban): math 9% / reading 21% proficiency, ranked #502 of 540 in MI (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.8%/yr); 141 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 39% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 23y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $143k; list at $240k implies a 68% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $228,700 (4.7% below list)

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.95% ✗
• Cap rate: 7.71%
• Cash-on-cash: 5.07%
• DSCR: 1.23
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $271,998
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27604 Rialto St	0.00mi	3/1.5	1,680 (+0%)	1mo	$240,000	$143	99
942 E Gardenia Ave	0.12mi	3/1.5	1,780 (+6%)	2mo	$235,000	$132	83
1205 Jenifer Ave	0.39mi	3/2.0	1,658 (-1%)	2mo	$268,000	$162	76
27807 Delton St	0.27mi	3/2.0	1,502 (-10%)	1mo	$240,000	$160	67
830 Mapleknoll Ave	0.54mi	3/1.5	1,599 (-5%)	2mo	$275,000	$172	65
28447 Brush St	0.70mi	3/2.0	1,659 (-1%)	1mo	$287,500	$173	62
29064 Howard Ave	0.71mi	3/2.0	1,736 (+3%)	1mo	$245,000	$141	58
26605 Rialto St	0.47mi	3/1.0	1,510 (-10%)	1mo	$237,500	$157	58
27756 Palmer Blvd	0.59mi	3/2.0	1,526 (-9%)	2mo	$301,000	$197	53
1594 Harvard Dr	0.63mi	3/2.5	1,847 (+10%)	0mo	$415,000	$225	50
28800 Tawas Ct	0.59mi	3/2.0	1,876 (+12%)	2mo	$225,000	$120	49
26144 Tawas St	0.73mi	4/2.0 (+1)	1,468 (-13%)	2mo	$305,000	$208	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.81% rent growth · sell at horizon

5-year hold

• IRR: -8.6%
• Equity multiple: 0.68×
• Total profit: $-21,299
• Equity at exit: $35,785

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $2,748
• Equity at exit: $20,751

Cash invested: $67,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48071

• Rents YoY: 2.8%
• Active inventory: 141
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,287 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$164 /mo · $1,972/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $284

Break-even live

Break-even rent $1,928

Max offer price $240,000

Occupancy floor 83%

Sensitivity live

Price	-10% $420	-5% $352	+0% $284	+5% $216	+10% $148
Rent	-10% $103	-5% $193	+0% $284	+5% $374	+10% $464
Rate	-1.0pp $405	-0.5pp $345	base $284	+0.5pp $222	+1.0pp $158

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1045 E 12 Mile Rd Madison Heights, MI	3.0	1.0	1700	$4,000	$2.35	0d	1	0.64mi
14895 Twelve Mile Rd Warren, MI	1.0–2.0	1.0–1.5	1025	$1,560	$1.52	3d	4	0.83mi
29264 Tessmer Ct Madison Heights, MI	2.0	1.5	1128	$1,395	$1.24	45d	1	0.86mi
1322 Elliott Ave Madison Heights, MI	3.0	1.5	1500	$2,100	$1.40	19d	1	0.91mi
642 Bellaire Ave Madison Heights, MI	3.0	2.5	1750	$2,423	$1.38	23d	1	0.96mi
28222 Saint Louise Dr Warren, MI	3.0	2.0	1600	$5,500	$3.44	0d	1	1.01mi
29607 Howard Ave Madison Heights, MI	3.0	2.5	1956	$1,950	$1.00	45d	1	1.07mi
1132 N Campbell Rd Royal Oak, MI	2.0–3.0	1.0–1.5	1125	$2,085	$1.85	0d	8	1.35mi
25151 Dequindre Rd Madison Heights, MI	3.0	2.0	1088	$1,279	$1.18	25d	1	1.40mi
406 N Campbell Rd Royal Oak, MI	3.0	2.0	1814	$2,500	$1.38	0d	1	1.41mi
28439 Wexford Dr Warren, MI	3.0	1.5	1253	$2,099	$1.68	25d	1	1.44mi

Listing history 13 events

1. 2026-05-05
   status Pending 396-char remark

   Show marketing remark (396 chars)

   Charming move-in-ready 980 sq ft ranch featuring 3 bedrooms and 1.5 baths. This home offers a partially finished full basement with additional living space, a half bath, and laundry area. Situated on a corner lot in a quiet neighborhood, it includes a fenced backyard with a deck - perfect for entertaining. Conveniently located with easy access to freeways, shopping, restaurants, and nightlife.

2. 2026-05-05
   status Pending

   Show marketing remark (396 chars)

   Charming move-in-ready 980 sq ft ranch featuring 3 bedrooms and 1.5 baths. This home offers a partially finished full basement with additional living space, a half bath, and laundry area. Situated on a corner lot in a quiet neighborhood, it includes a fenced backyard with a deck - perfect for entertaining. Conveniently located with easy access to freeways, shopping, restaurants, and nightlife.

3. 2026-05-03
   listed $240,000 Active

   Show marketing remark (396 chars)

   Charming move-in-ready 980 sq ft ranch featuring 3 bedrooms and 1.5 baths. This home offers a partially finished full basement with additional living space, a half bath, and laundry area. Situated on a corner lot in a quiet neighborhood, it includes a fenced backyard with a deck - perfect for entertaining. Conveniently located with easy access to freeways, shopping, restaurants, and nightlife.

4. 2026-05-03
   listed $240,000 Active 396-char remark

   Show marketing remark (396 chars)

   Charming move-in-ready 980 sq ft ranch featuring 3 bedrooms and 1.5 baths. This home offers a partially finished full basement with additional living space, a half bath, and laundry area. Situated on a corner lot in a quiet neighborhood, it includes a fenced backyard with a deck - perfect for entertaining. Conveniently located with easy access to freeways, shopping, restaurants, and nightlife.

5. 2026-04-30
   historical $240,000 396-char remark

   Show marketing remark (396 chars)

   Charming move-in-ready 980 sq ft ranch featuring 3 bedrooms and 1.5 baths. This home offers a partially finished full basement with additional living space, a half bath, and laundry area. Situated on a corner lot in a quiet neighborhood, it includes a fenced backyard with a deck - perfect for entertaining. Conveniently located with easy access to freeways, shopping, restaurants, and nightlife.

6. 2003-08-01
   soldstatus $143,000
7. 2003-06-26
   soldstatus $143,000
8. 2003-06-26
   soldstatus $143,000
9. 2003-05-20
   historical
10. 2003-04-22
    listed $144,900
11. 2003-04-22
    listed $144,900
12. 2001-08-08
    soldstatus $128,000
13. 1998-07-06
    soldstatus $105,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $1,972 · $164/mo
• Projected year-2 tax: $2,834 · $236/mo
• Expected delta: +$862/yr (+$72/mo · 43.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,444
• − Mortgage interest: −$13,444
• − Property taxes: −$1,972
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,196
• − Management: −$2,196
• − Depreciation: −$6,982
• Taxable loss: −$544
• Est. tax savings @ 24.0%: +$131
• After-tax cash flow: $3,537/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Madison District Public Schools
• NCES district ID: 2622290
• Math proficiency: 9% ▼ -11.00%
• Reading proficiency: 21% ▼ -12.00%
• Median HH income: $41,297
• Composite: 12.89/100
• National rank: #9586
• State rank: #502 of 540 in MI

Livability — Madison Heights

• Score: 81/100
• State rank: #62
• US rank: #1347

Category grades

Amenities B+ Commute A+ Cost of living A+ Crime B- Employment C+ Housing A+ Health & safety D User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Madison Heights, MI
• County: Oakland County · 1,009,092 people
• City population: 28,419
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 28,419
• Household income: $69,503
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 786.0

Population outlook (Oakland County) Hauer SSP2

• Today (2025): 1,335,747 people
• By 2030: 1,375,100 · +2.9%
• By 2040: 1,435,385 · +7.5%
• By 2050: 1,469,250 · +10.0%
• By 2075: 1,531,946 · +14.7%
• By 2100: 1,450,485 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 7% Asian 7% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 11% Lithuanian 3% Slovak 2%
• Foreign-born: 14% · China, Canada, South Korea
• Languages at home: 84% English-only · Chinese 3% Other Indo-European 3% Arabic 2%

Political lean MEDSL · Oakland

• 2024 margin: D (+10.6) · D 54.4% · R 43.8% · Other 1.9%
• 2008→2024 swing: -3.9pp toward R · 2008: 14.5pp · 2024: 10.6pp
• All cycles: 2024: D+10.6 2020: D+14.1 2016: D+8.1 2012: D+8.1 2008: D+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -275.69%
• Current HPI: 243.4861
• Rent YoY: ▲ 2.81%
• Metro: Detroit-Warren-Dearborn, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

+128.6% since first listed

13 events — show timeline

• 2026-05-05 Pending — MiRealSource-MiMLS
• 2026-05-05 Pending — REALCOMP
• 2026-05-03 Listed $240,000 REALCOMP
• 2026-05-03 Listed $240,000 MiRealSource-MiMLS
• 2026-04-30 Coming Soon $240,000 MiRealSource-MiMLS
• 2003-08-01 Sold (Public Records) $143,000 Public Records
• 2003-06-26 Sold (MLS) $143,000 MiRealSource-MiMLS
• 2003-06-26 Sold (MLS) $143,000 REALCOMP
• 2003-05-20 Listing Removed — MiRealSource-MiMLS
• 2003-04-22 Listed $144,900 MiRealSource-MiMLS
• 2003-04-22 Listed $144,900 REALCOMP
• 2001-08-08 Sold (Public Records) $128,000 Public Records
• 1998-07-06 Sold (Public Records) $105,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $1,972 · +2.6% YoY. Source: county tax records.